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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues    
Property and casualty insurance premiums $ 8,286 $ 7,959
Life premiums and contract charges 616 593
Other revenue 216 210
Net investment income 786 748
Realized capital gains and losses:    
Total other-than-temporary impairment (“OTTI”) losses 0 (62)
OTTI losses reclassified (from) to other comprehensive income (1) 3
Net OTTI losses recognized in earnings (1) (59)
Sales and valuation changes on equity investments and derivatives (133) 193
Total realized capital gains and losses (134) 134
Total revenues 9,770 9,644
Costs and expenses    
Property and casualty insurance claims and claims expense 5,149 5,416
Life contract benefits 504 474
Interest credited to contractholder funds 161 173
Amortization of deferred policy acquisition costs 1,273 1,169
Operating costs and expenses 1,355 1,307
Restructuring and related charges 22 10
Interest expense 83 85
Costs and expenses 8,547 8,634
Gain on disposition of operations 1 2
Income from operations before income tax expense 1,224 1,012
Income tax expense 249 317
Net income 975 695
Preferred stock dividends 29 29
Net income applicable to common shareholders $ 946 $ 666
Earnings per common share:    
Net income available to common shareholders per common share - Basic (in dollars per share) $ 2.67 $ 1.82
Weighted average common shares - Basic (in shares) 354.1 365.7
Net income available to common shareholders per common share - Diluted (in dollars per share) $ 2.63 $ 1.79
Weighted average common shares - Diluted (in shares) 359.9 371.3
Cash dividends declared per common share (in dollars per share) $ 0.46 $ 0.37